Sitharaman urges RBI digital rupee pilots, calls AI double edged
Business
At the Global Fintech Fest 2026, Finance Minister Nirmala Sitharaman called AI a "double-edged sword;" it can help catch fraud but also make cyberattacks smarter.
She is pushing for gentle regulation that keeps innovation alive and wants the Reserve Bank of India (RBI) to fast-track its digital rupee pilots as tokenization in finance picks up speed.
Sitharaman urges accountability, shared industry platform
Sitharaman made it clear that humans and institutions, not machines, should stay responsible for how AI gets used.
She warned about risks from autonomous systems and suggested stricter oversight for high-risk technology.
To help Indian companies handle global rules, she proposed a shared industry platform, and encouraged fintechs to self-regulate where formal checks are not possible.